Germany wants to sell its stake in the country's second biggest lender Commerzbank as soon as possible, Finance Minister Wolfgang Schaeuble said. "The faster we are out, the better," Schaeuble told the weekend edition of German newspaper Rheinische Post, adding the bank recently showed "a pleasing development".
Commerzbank expects to start repaying the money it got from German bank bailout fund Soffin in 2012 at the latest. "Every day we work to repay the silent participation money more quickly," Chief Financial Officer Eric Strutz said on August 5, referring to the non-voting capital that Berlin provided to help prop up the lender during the crisis.
"This leaves room for speculation that it could be earlier," Strutz had added. In addition to buying a 25 percent stake in Commerzbank for 1.8 billion euros ($2.31 billion) during the financial crisis.
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